The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1887-12-03
AGOOD EXAMPLE.
HON q C0tt0n FaeLory was Seeured.
ICommerelaI Heraldl

Commercial Herald.l
Mr.. JOS. W. Person. Of Port Gibson.
who has been secretary Of the Port
Gibson cotton mills since the incipien-
ey Of the proposition to start mill
there, is in the city and apropos Of the
subject which is now an obsorbing
topic here he was asked by reporter
for this paper TO tell why and how his
mills were started. Mr. Person said
that in 1882 a number of gentlemen
were discussing the subject in his Office
and there the plan to establish the mills
originated. No one man felt inclined
to carry the financial burden of estab-
fishing the enterprise, but it was favor
bly, talked of and in short while the
whole town was alive with enthusiasm
for the new project. The people read |
lly realized the multitudinous benefits |
which would accrue from the mills in
bnilding up their town and gave to the
scheme their hearty support. The peo-
pie were a unit in favor of it, and by
working in unity have at last succeed
ed in their ends. \ charter was secur-
ed and the shares Of capital stock were
placed at $50 each aud everybody who |
could spare the amount took stock in
the concern. The largest subscription
made by any single person was for
$500 worth of stock and from this
amount the subscriptions ranged on
down to single share. In this way
about $4,000 was raised. A certain
per cent of the stock was called in as
it was needed and the $4,000 sub
scribed served to purchase the site for
the mills, erect the buildings and put
in the motive power. While this was
done the corporation was out of funds
and had to come to stand still. Moth
ing was done until the latter part of
1885. when Mr.. Person saw an adyer-
tisement in this paper of LOT oflooms
and mill machinery being for sale. An
expert was secured in st. Louis and Il
committee consisting of President
Drake and Mr.. L. 7. Newman was
sent to Springfield, Mo-, where the ma
chinery was owned by Mr.. HIarwood
and others to see what arrangements
could be made with him for the pur-
chase of the machinery. The expert
examined it and found it to be in every
way suitable for the purposes for
which 1t was wanted, and the commit
tee finally arranged with Harwood and
his conferers to put in their machinery
for S24,O00 worth of the capital stock
of the mills. After this had been done
the directors of the company raised
$4,000 with which to pay the cost of
transporting the machinery to Port
Gibson, and it was placed in the mill.
When this was done it was found that
the mill was again out of funds, and
before il could be operated more
funds would have to be obtained. The
directors finally succeeded in securing
loan of $4,000 by a first mortgage
on their property and superintendent
who has had experience in such mat.
ters had been secured and within sixty
days the factory win be running los
looms which il now has in position
The $4,000 mortgage is the only in
debtness outstanding against the mill
and by united efforts the people Of
Port Gibson have secured a factory
worth $4,000. Five years is allowed
in which to pay off the mortgage and
Mr.. Person is confident that it can be
done in that time. The mill viii man.
ufacture seven-eighth and yard wide
sheeting and shirting and within ninety
; days will be in full blast. The delay
in inaugurating the new move has, SO
far from being hardship, been almost
providential in its goodness. It's only
during the last eighteen months that
any of the mills have made any money
! but now they are all declaring good
dividends and paying oil their in debt.
ness. Port Gibson has a population
= of about 1850 and an assessed valua-
. ton of real and personal property OF
S550,0O0. But unity and concert OF
action did il and in a short while fruit.
: of such enterprise win begin to ripcr
in solid benefits to the town which
contemplates boom such as it hai
never known before.